Hollywood blockbusters playing "China Special" fans: treat us as retarded?

  A Hollywood blockbuster, besides the international version, also has a special "China Special Edition". Recently, Iron Man 3 has been released in two editions, namely "International Edition" and "China Edition", and many Hollywood blockbusters have begun to consider how to please China audiences better. The way Paramount Film Company handled two films recently can tell the world that China has become an important film market in the world. Directed by marc forster and starring Brad Pitt, "world war z" will be a special edition for modifying some plots in the China market; Another work of the company, "Transformers 4", also confirmed that part of the content will be produced in China. Even Cameron’s Avatar has a China race. Nowadays, Hollywood blockbusters playing "China Special" and "Double Edition" have attracted heated discussion in the British media, but China fans are quite angry about it.

  Cameron: There will also be many Chinese on Pandora.

  Recently, the film world war z, directed by marc forster and starring Brad Pitt, exposed the latest poster, and announced that the film will be released in North America in the summer on June 21st, 2013. At the same time, it is reported that the film will be specially produced as "China Special Edition".

  The story tells the story of human beings facing desperate survival after the outbreak of zombie virus. Brad Pitt plays a survivor in the film. In the western version, the zombie plague involves China. In the China version, this plague is called "Moscow flu", which originated from military enterprises. The first person to find the virus was a brave China scientist. World war z is actively striving for the introduction and submission.

  Paramount Film Company has decided to make part of the production process of Transformers 4 in China, and has reached a cooperation agreement with CCTV Film Channel. This blockbuster film series directed by michael bay has been launched in London, and it is scheduled to land in North American cinemas on June 27th, 2014, which is expected to be introduced into China at the same time. In an interview with foreign media, michael bay revealed that China actors performed in Transformers 4 for up to 10 minutes, but this part will not appear in the western version.

  Avatar 2, which is being prepared, has also been widely reported that there will be many China elements in the film, including the Avatar race based on China. Cameron, the director, said that he hoped to invite China actors to play an important role in the film. He thought the market was very important. "I will do some necessary work to make this country an important market for my films. I will abide by the internal rules of this market. "

  It’s not the first time that a Chinese-American cooperative film has a "special edition" when it was released in China. Last year’s "Ring Messenger" showed more scenes of Summer Xu and scenes in Shanghai than the international edition. In Marvel’s summer masterpiece Iron Man 3, Fan Bingbing’s play only appeared in the China version.

  British media hotly discuss "Hollywood suffers from China syndrome"

  The website of The Sunday Times reported that "China defeated the zombies in Brad Pitt", while the Independent recently published an article pointing out that "Hollywood suffers from China syndrome": "Hollywood is now panting after the China film market. In order to win business, Hollywood is ready to rewrite the script, reshape the bad guys, and even transplant the whole work. "

  The reason is that an annual report released by the Motion Picture Association of America last month shows that China has replaced Japan as the second largest box office market in the world after the United States in 2012.

  Adding China element is questioned as "export to domestic sales"

  Hollywood’s move has attracted a lot of criticism from China fans when it has not brought benefits yet. Many netizens questioned that this kind of differential treatment is "very deceptive" and belittled the level of Chinese people’s movie viewing, "simply treating us as retarded". Many netizens think that the forced implantation of China elements is not beneficial to the content of the film, and the blunt creation of a "double version" is purely for the producers in China to entertain themselves, and the performance of China actors is nothing more than "exporting to domestic sales". The China industry is worried that this new model will threaten the already struggling domestic films. "People take away our market and our funds, how can China films survive?"

  Extended reading

  The qualification of "co-production" is hard to find, and "special offer" kills two birds with one stone

  Insiders: China’s "plug-in" is difficult to become mainstream

  According to the Motion Picture Association of America, by 2020, China may surpass the United States and become the largest film market. As a result, Hollywood blockbusters are "a red heart, two hands ready." The concept of "double version" suddenly triggered a heated discussion in the industry, and netizens complained about it. "Why does Hollywood have to make money in a different way?" Yan Erwei, a producer who is familiar with the Hollywood market and executive director of Riggs Communication, believes that "special editions" may appear together, but they will not become the mainstream.

  It is not difficult to find that Iron Man 3 and Transformers 4 have caught people’s attention with "co-production" and "co-production". Avatar 2, which is being prepared, has also been exploded, and there will be many elements of China. The "Special Edition" has caused a heated discussion in the industry. It has been reported that the reason why the "special edition" has emerged is that there are too many conditions required for "co-production" and the qualification is too difficult to obtain. Can’t justify "in tune", Hollywood blockbusters simply take the "special offer" route, use China elements to create topics in the simplest way, and attract mainland audiences to pay for tickets, which can be described as killing two birds with one stone.

  Yan Erwei is very familiar with the Hollywood market. He said that "co-production" existed before, and The Kite Runner was a typical example. "More than 90% of the shots of this film were shot in China. At that time, there were two Chinese and American crews on the shooting scene, but the film was not released in the mainland after the filming, and the film side did not intend to release it in the mainland. In short,’ co-production’ refers to the film that has nothing to do with China after the filming. But recently, this concept has gone bad, because a large number of Hollywood commercial blockbusters have entered the China market with ambition. ". The ambition here is to add some China scenes and actors to win the audience’s favor. "

  Will "special edition" become a trend? How long can this model have vitality? Yan Erwei said frankly that it is possible that there will be more and more "special editions" in recent years, but it is not necessary to put a question mark on it. "Let’s just say that’ special offer’ has not greatly improved the quality of the film itself, and it is not good for exporting values, so I personally am not optimistic about the prospects, at least it will not become the mainstream." He described the "special edition" as a "plug-in" for China in Hollywood film operation, which may be the beginning but can only be a transition.

  Will this difference affect the movie-watching mentality of fans and the box office of movies? Yan Erwei said that at present, the "special edition" with China elements will not be too bad at the box office in the mainland, and these films will have a new fulcrum in marketing and publicity, and the appearance of face of china will also make the audience feel familiar.

  Film critic Bi Chenggong also said that although netizens have a lot of abuse, I am afraid that when the movie is really released, most of them will still go to the cinema. He also pointed out that the China element will not affect overseas audiences. "Hollywood blockbusters are often filmed in various countries, and overseas audiences have long been used to it. For them, as long as Americans shoot American movies, they will be given a three-stage genre film, and it is the same where they are filmed."

  Comprehensive Oriental Daily and xiaoxiang morning herald

Experts on the Defence of Blue Sky (5) Dust is an important source of particulate matter, and control should be continuously strengthened.

  The causes, sources and control of heavy air pollution are one of the hot issues in society. During the Spring Festival and epidemic control, the National Joint Center for Air Pollution Prevention and Control thoroughly analyzed the characteristics and laws of the heavy pollution process, providing continuous scientific and technological support for winning the blue sky defense war in 2020. The National Joint Center for Air Pollution Prevention and Control has recently launched a series of expert interpretations, which we forwarded to further respond to public concerns. In this issue, experts from Nankai University and china environmental science Research Institute are invited to analyze and interpret the impact of dust on air pollution.
  1. Dust is atmospheric particulate matter (PM10And PM2.5Etc.).
  According to China’s Technical Code for Prevention and Control of Urban Dust Pollution (HJT393-2007), dust sources can be divided into four categories: road dust, construction dust, soil dust and yard dust. The research results of source inventory show that the emission of PM10 in Beijing-Tianjin-Hebei and the surrounding "2+26" cities reaches 1.7 million tons/year, and PM2.5It reaches 450,000 tons/year, of which roads and construction are the main sources of dust in most cities, and together they can account for more than 80% of the total dust emission. The results of urban particulate matter source analysis for many years also show that although dust has been controlled to some extent in recent years, the sharing rate of dust in most cities to PM2.5 concentration is still 15%~25%.
  Urban dust has the characteristics of uncertain source intensity, random emission, diverse emission locations and types. The impact of dust is mainly affected by two factors: one is the amount of particles (such as road dust load) and the physical properties of particles (such as water content) on the carrier (such as roads) carrying dust, and the other is the disturbance degree of human activities or natural forces. The more dust accumulated, the greater the disturbance, and the more serious the impact of dust. There are a lot of cars driving in the road environment, and human activities are very intense, so road dust is one of the most important sources of dust. But the problem is that our roads don’t produce much particulate matter, and the road dust is very high on most roads. Many roads have more than 10 grams/square meter of dust, and good roads only have 1-2 grams/square meter, or even lower. So where does the dust on the road mainly come from? The research results for many years show that road dust is closely related to the material transportation in the construction site. In addition to the dust pollution caused by various construction operations (especially ground-breaking operations), it is more important to have its "long chain" emission, that is, a construction site will cause a large area of dust pollution due to the transportation and scattering of various raw materials, earthwork and other materials. Therefore, construction and roads are important sources of dust, and are the focus of urban dust control.
  2. Changes in the activity level of dust-related pollution sources during the Spring Festival and the epidemic.
  According to the big data of construction machinery based on the Internet of Things, the average operating rate of construction machinery during the Spring Festival in 2020 was about 5%, and it was about 23% in the same period in 2019, and the operating rate of construction machinery decreased by 77% year-on-year. After the Spring Festival in 2020, affected by the epidemic (from the seventh day to the 23rd day of the first month), the operating rate of construction machinery did not gradually return to the pre-holiday level as in previous years, but the operating rate remained at around 7%, and it did not show signs of recovery until after the 24th day of the first month. This shows that there are fewer construction projects and fewer "direct sources" of construction dust.
  Operating rate of construction machinery during the Spring Festival in 2019 and 2020
  (Source: Tiejia. com-Rolling Broadcasting of Operating Rate of National Construction Machinery)
  In addition, motor vehicle traffic is also significantly affected by the epidemic. In 2020, the cross-sectional traffic volume of passenger cars and trucks in the six provinces of Beijing, Tianjin and Lu Yu will be 50% and 53% respectively compared with last year. From the first day of the first month to the seventh day of the first month in 2019, the cross-section traffic volume increased rapidly from a low value, and the cross-section traffic volume on the seventh day of the first month has basically reached a normal level, while in the same period in 2020, the cross-section traffic volume has remained at a low level due to the epidemic situation. This shows that there are fewer cars on the road and fewer disturbances caused by human activities.
  Variation trend of cross-section traffic volume during Spring Festival in 2019 and 2020.
  (Source: Planning Institute of Ministry of Transport)
  3. The change of particulate pollution characteristics during the Spring Festival this year just shows the impact of dust.
  During the Spring Festival and the epidemic, the sources of dust have decreased, so let’s take a look at the corresponding changes in the characteristics of particulate pollution. For "2+26" cities, the whole year of PM in 20192.5/PM10The average ratio was 0.57, and it reached 0.77 in January 2020, up 10% from 0.7 in the same period of 2019. It even rose to 0.84 during the Spring Festival and the epidemic period, up 38% from 0.61 in the same period of 2019, and even reached 0.9 in some cities during the Spring Festival and the epidemic period.
  We know, PM10With PM2.5It is an inclusion relationship, and the ratio of the two can reflect the source and characteristics of particulate pollution to a certain extent. In more than 300 cities in China, the ratio is between 0.3 and 0.8. Generally speaking, the ratio will be higher in cities with higher level of urban dust management, usually around 0.7, or even up to 0.8. The proportion of cities with low level of urban dust management or affected by sandstorm is relatively low, which can reach about 0.3. Theoretically, it affects PM.2.5/PM10The main factors of the ratio include source composition and meteorological factors. In addition to the influence of meteorological factors such as static weather and high humidity conditions, the particle size distribution law of different source sources is very different. Such as PM in dust emission2.5It only accounts for about 5-10%, and the particulate matter emitted by motor vehicles can be considered as PM.2.5Organized emissions from industrial enterprises are also dominated by fine particles. That is to say, the higher the proportion of fine particles in particulate matter, the lower the proportion of coarse particles, indicating the lower the contribution of dust sources. On the other hand, the source analysis results of some cities show that the contribution rate of dust to PM2.5 in January 2020 is only 5%, which is a quarter of the usual state. Therefore, the recent changes in the characteristics of particulate pollution in Beijing, Tianjin and Hebei show that the sharp reduction of social activities during the Spring Festival and the epidemic has reduced the contribution of dust sources to particulate matter, which has reduced PM.10The concentration has obvious effect, and it also has some influence on reducing the concentration of PM2.5.
  4. Suggestions on dust pollution control
  Compared with other sources of particulate matter, the technical threshold of dust source prevention and control is not high, the cost is low, the effect is quick, and there is still a large controllable space. However, in view of the characteristics of dust sources, it is still difficult to have a set of technical systems such as emission standards, monitoring norms, treatment and evaluation like other source management, so there are still many difficulties in practical work. In practice, there is a common phenomenon that one pipe is effective and it will rebound as soon as it is loosened.
  We believe that management is the core, implementation is the key, infrastructure is the cornerstone and system is the guarantee in dust prevention and control. The first thing is to carry out education and technical training on dust pollution prevention and control for sanitation workers, construction site workers, front-line workers and managers of dust-prone industrial enterprises, so that dust prevention and control will become a spontaneous and conscious behavior of front-line personnel; Second, it is necessary to strengthen the global prevention and control of dust pollution, focusing on the urban-rural fringe, taking the urban built-up area as the standard, implementing urban and rural bare ground greening, and hardening the dirt roads in the urban-rural fringe and rural areas; Third, we should strengthen the whole process control of dust generation, transportation, stacking and unloading, optimize and improve the relevant assessment mechanism, and establish a public supervision mechanism; Fourth, we should establish and improve the index system and normalization evaluation mechanism of dust prevention and control in engineering construction site; Fifth, we must rely on advanced technical means to realize online monitoring and control of dust pollution and realize all-round control of dust pollution.
  China’s air pollution has gone from pollution source management to total amount management to current quality management, and pollution control has gone from single-source management to multi-source management to current multi-source and multi-pollutant collaborative management, so pollution prevention and control has embarked on a comprehensive, refined and scientific road. The same is true for dust prevention and control. We should not only pay attention to those visible construction sites and mounds, but also unswervingly follow the route of comprehensive prevention and control of multiple pollutants, pay attention to all sources that can produce dust, and carry out in-depth and meticulous control on pollution sources such as industry, coal burning and motor vehicles, so as to finally achieve the goal of comprehensive air quality standards.

Analysis of Five Selling Points of vivo X100 Series Quality Flagship All-round Cup

The series really kept everyone waiting for too long. This flagship new machine finally met us in November. Starting from the flagship of the previous generation of vivo X series, vivo put forward the product concept of eliminating small cups. The newly released X100 series is still a full-scale mug, and there are only two models: the large X100 and the oversized X100 Pro. Next, let me show you the highlights of X100 series and decide whether to buy it after reading it.

In terms of design, X100 and X100 Pro are inspired by the sun and the moon respectively. X100 adopts a brand-new moon ring cloud step design, and the right side of the lens module is specially treated, which is the same as the crescent moon. This crescent moon is made of aviation grade stainless steel, which can not only protect the lens, but also has the characteristics of wear resistance and paint retention.

Analysis of Five Selling Points of vivo X100 Series Quality Flagship All-round Cup

X100 Pro is a solar ring cloud design based on the sun, which is inspired by the shining brilliance of the solar ring, and the position and color of the corresponding camera module have also changed. At the same time, X100 series is also very fine in polishing details. Not only is the lens equipped with a 2.5D gem lens, but the module also adopts the sun pattern technology of the same model of Rolex watch, which looks very advanced.

Analysis of Five Selling Points of vivo X100 Series Quality Flagship All-round Cup

In terms of color matching, X100 is the same in all departments, with four colors, namely Sunset Orange, Bai Yueguang, Star Blue and Chenye Black. Among them, Sunset Orange is made of plain leather, which has the advantages of comfortable feel and not easy to be contaminated with fingerprints, and it is a perfect match with X100 Pro’s solar ring cloud step design.

Analysis of Five Selling Points of vivo X100 Series Quality Flagship All-round Cup

X100 series’ moon ring cloud order is more suitable for Bai Yueguang and interstellar blue color matching. Among them, Bai Yueguang is made of glossy glass, while Star Blue is made of star-track micro-nano lithography technology, which looks like a galaxy flashing and has a very high value. The black color matching is an AG matte process, which is very suitable with both designs, and the overall appearance is low-key and restrained.

In terms of core performance, vivo X100 series is the first flagship processor Tianji 9300 released by MediaTek. This chip adopts a full-core design, and the CPU part is composed of four Cortex-X4 supercomputers and four Cortex-A720 supercomputers, with no small cores. Among them, the highest frequency of super-large core can reach 3.25GHz, and its performance can be said to be very powerful.

Analysis of Five Selling Points of vivo X100 Series Quality Flagship All-round Cup

In terms of GPU, Tianqi 9300 has a built-in 12-core Immortalis-G720 graphics processor, which can bring about an overall improvement in performance and energy efficiency. X100 series models equipped with Titianji 9300 chip also brought the launch of the seventh generation AI processor APU790 and the second generation ray tracing engine.

Analysis of Five Selling Points of vivo X100 Series Quality Flagship All-round Cup

It is worth mentioning that the flagship processor of Tianji 9300 was jointly developed by vivo and MediaTek, and the performance, AI, image and battery life of the processor were jointly optimized by the two policies, bringing users a more reliable and smooth computer experience.

Analysis of Five Selling Points of vivo X100 Series Quality Flagship All-round Cup

The performance of Tianji 9300 didn’t disappoint us either, and it formed a three-legged situation with the previously released A17 Pro and the third-generation Snapdragon 8. I believe that in the future, Tianji 9300 will have more room to play, and more and more flagship machine will choose Tianji processor.

Image performance is the strength and killer of vivo X series. This time, vivo X100 brought a 50-megapixel super-sensitive VCS bionic main camera, a 64-megapixel Zeiss super telephoto lens and a 50-megapixel super wide-angle lens, and also equipped with a dToF laser focusing sensor and a self-developed image chip V2.

Analysis of Five Selling Points of vivo X100 Series Quality Flagship All-round Cup

X100 Pro’s imaging ability is stronger. The main camera is IMX989 true one-inch sensor, supplemented by 50-megapixel Zeiss super telephoto lens and 50-megapixel super wide-angle lens. It is also equipped with dToF laser focusing sensor. It can be said that X100 Pro’s hardware crushed friends in the flagship mobile phone with new processor at the end of this year.

Analysis of Five Selling Points of vivo X100 Series Quality Flagship All-round Cup

That’s not all. X100 Pro has also brought us a brand-new self-developed video chip V3. This chip adopts 6nm process, and its energy efficiency is increased by 30% compared with the previous generation. It supports 4K movie-level portrait video, and at the same time, it can optimize the game, and the frame rate can be inserted to 120 frames, which can be said to be very comprehensive.

At the level, vivo continues to cooperate deeply with Zeiss. X100 is equipped with B-Speed blur, a new member of Zeiss lens protection, and also supports five portrait environment points. With Zeiss style and color, X100 continues to consolidate the leading position of mobile portrait photography. Finally, three kinds of personalized watermark photo frames are added in X100, which can be added according to your own preferences.

In terms of system, vivo X100 will be equipped with the newly released OriginOS4. The new system will continue to upgrade the appearance of the system, giving users a higher degree of freedom, and the system settings will be updated with brand-new color icons, which will make the display clearer, the font look more comfortable, and the overall system will look more beautiful and practical.

Analysis of Five Selling Points of vivo X100 Series Quality Flagship All-round Cup

Of course, the key upgrade of OriginOS4 is the big blue heart model. The brand-new blue heart model has three core functions, namely, a large text model built for end testing, a dialogue function developed for natural dialogue, and the ability to cope with extreme scenes.

Analysis of Five Selling Points of vivo X100 Series Quality Flagship All-round Cup

After calling Blue Heart V, you can ask it to help you write a copy, a weekly report, and also help you summarize the key points of an article or paper. You can be a good hand in writing. He can also help you find files or photos in your mobile phone quickly, just like your intimate electronic secretary, and even he can keep chatting and solve your boring time.

Analysis of Five Selling Points of vivo X100 Series Quality Flagship All-round Cup

Generative AI is a very hot topic this year. I believe that everyone has heard or used the ability of AI to improve the efficiency of daily work and life. The convenience provided by Blue Heart V can involve all aspects of life. I believe you will like it if you use it.

In terms of other configurations, the vivo X100 series is also generous. Stereo double lift, full scene NFC, X-axis linear motor, infrared remote control and IP68 protection are all standard. Pro version is more hard-core configuration such as universal signal amplification system, independent -Fi chip, 3-microphone and 6-channel radio system.

Analysis of Five Selling Points of vivo X100 Series Quality Flagship All-round Cup

In terms of endurance, the vivo X100 has a built-in 5000mAh blue ocean battery, which increases the energy density by 8.3% compared with the previous generation and supports 120W dual-core flash charging. It has a built-in 5400mAh blue ocean battery, which supports 100W dual-core flash charging and 50W wireless charging. The X100 weighs about 202g, while the X100 Pro with better configuration is 221g.

Analysis of Five Selling Points of vivo X100 Series Quality Flagship All-round Cup

So, how to choose X100 and X100 Pro? First of all, the configurations of these two mobile phones are quite high. I think that professional players who require high price for taking photos can go to X100 Pro, because they have stronger image performance and battery life, and are more hardcore. X100 can meet all the needs of taking photos in our daily life, and is suitable for friends who are looking for cost performance and thinness.

At present, vivo X100 series mobile phones have been put on the platform of JD.COM, and now you can enjoy multiple preferential gifts when you participate in pre-order activities. Interested friends can click on the link below the article to learn more and participate in the activities.

The company is suspected of huge fraud! Securities and futures commission strikes hard.

After Henan Xinye Textile Co., Ltd. (hereinafter referred to as "*ST Xinfang" or "Xinye Textile") was put on file by the Securities and Futures Commission on March 21st, the regulatory authorities dealt with it strictly and promptly. In just over a month, the case quickly ushered in new progress.

*ST Xinfang announced on the evening of April 28th that the company received the Notice of Administrative Punishment in advance (hereinafter referred to as the Notice) on the same day, and the company was suspected of inflating, inflating operating income, inflating operating costs, inflating inventory and inflating R&D expenses, resulting in false records in the annual report from 2016 to 2022, and it was planned to be fined 42.5 million yuan. Wei Xuezhu, then chairman of the company, and Xu Qinzhi, then director, deputy general manager, then chief financial officer and secretary of the board of directors, were proposed to be banned from the securities market.

On the same day, the company issued an announcement about the delisting risk warning of the company’s shares being superimposed. The above matters may touch the situation of major illegal forced delisting, and the company’s shares may be subject to major illegal forced delisting. The company’s shares will be superimposed to implement delisting risk warning from April 29, and the company’s shares do not need to be suspended.

Market participants believe that the regulatory authorities intend to punish *ST Xinfang severely and quickly, which means that the concept of strict supervision and strict management is being effectively implemented in regulatory enforcement actions, releasing a heavy signal of cracking down on financial fraud. With the continuous improvement of the level of supervision, strict supervision and management will make the offenders who tell lies, make false accounts and hide the truth "both human and financial" and make the counterfeiters "unable to escape".

Suspected of financial fraud for 7 consecutive years

According to the Notice, Xinye Textile is suspected of inflating and deflating its operating income, inflating its operating costs, inflating its inventory and inflating its research and development expenses, resulting in false records in its annual report from 2016 to 2022.

Among them, in 2016, Xinye Textile inflated its operating income by 327,573,820.56 yuan, reduced its operating cost by 176,566,869.05 yuan, inflated its research and development expenses by 145,689,276.86 yuan, and inflated its total profit by 358,451,412.75 yuan, accounting for the total profit disclosed to the public in the current period.

In 2017, Xinye Textile inflated its operating income by 415,186,873.41 yuan, reduced its operating costs by 113,588,173.09 yuan, inflated its R&D expenses by 161,430,520.00 yuan, and inflated its total profit by 367,344,526.50 yuan, accounting for 115.5% of the total profit disclosed to the public in the current period.

In 2018, Xinye Textile inflated its operating income by 791,260,794.64 yuan, inflated its operating costs by 324,203,622.72 yuan, inflated its R&D expenses by 182,711,331.72 yuan, and inflated its total profit by 284,345,840.20 yuan, accounting for 65.77% of the total publicly disclosed profits in the current period.

In 2019, Xinye Textile inflated its operating income by 1,214,828,839.70 yuan, inflated its operating costs by 447,174,451.37 yuan, inflated its research and development expenses by 184,918,136.28 yuan, and inflated its total profit by 582,736,252.05 yuan, accounting for the total profit disclosed to the public in the current period.

In 2020, Xinye Textile inflated its operating income by 1,033,879,498.96 yuan, inflated its operating costs by 486,224,705.51 yuan, inflated its research and development expenses by 156,715,336.95 yuan, and inflated its total profit by 390,939,456.50 yuan, accounting for the total profit disclosed to the public in the current period.

In 2021, Xinye Textile inflated its operating income by 666,637,035.70 yuan, inflated its operating costs by 92,364,075.25 yuan, inflated its R&D expenses by 163,025,099.78 yuan, and inflated its total profits by 411,247,860.67 yuan, accounting for 1,013% of the total publicly disclosed profits in the current period.

In 2022, Xinye Textile inflated its operating income by 1,258,233,157.95 yuan, inflated its operating costs by 1,919,295,821.13 yuan, inflated its R&D expenses by 101,186,735.00 yuan, and inflated its total profit by 762,249,398.18 yuan, accounting for the current period.

The CSRC believes that the above-mentioned behavior of Xinye Textile is suspected of violating the provisions of Article 63 of the Securities Law of People’s Republic of China (PRC) revised in 2005 (hereinafter referred to as the Securities Law of 2005) and the second paragraph of Article 78 of the Securities Law of People’s Republic of China (PRC) revised in 2019 (hereinafter referred to as the Securities Law), which constitutes the first paragraph of Article 193 of the Securities Law of 2005 and Article 100 of the Securities Law.

The proposed fine is 42.5 million yuan.

According to the facts, nature, circumstances and social harm of the illegal acts of the parties concerned, combined with the special circumstances that the illegal acts span the application of the old and new Securities Law, and according to the provisions of the second paragraph of Article 197 of the Securities Law, the CSRC intends to impose a fine of 42.5 million yuan on the company and related responsible persons.

Among them, it is planned to order Xinye Textile to make corrections, give a warning and impose a fine of 10 million yuan;

It is proposed to give a warning to Wei Xuezhu and impose a fine of 5 million yuan;

It is proposed to give Xu Qinzhi a warning and impose a fine of 4 million yuan;

And impose corresponding penalties on other parties.

Image source: company announcement

Strict supervision and management, and heavy punches are also reflected in the precise attack on the "key minority." According to the Advance Notice of Administrative Punishment and Market Prohibition, Wei Xuezhu was then the chairman of Xinye Textile, and organized and planned the illegal information disclosure involving a long time and huge amount, which seriously disrupted the order of the securities market. According to the relevant regulations, the CSRC intends to decide to ban Wei Xuezhu from the securities market for life.

As director, deputy general manager, then chief financial officer and secretary of the board of directors of Xinye Textile, Xu Qinzhi organized and implemented financial fraud according to Wei Xuezhu’s instructions, and the circumstances were serious. According to the relevant regulations, the CSRC intends to decide to ban Xu Qinzhi from the securities market for 10 years.

Financial fraud touches the bottom line of the capital market and must be resolutely cracked down. Recently, the CSRC has repeatedly stressed that it will continue to strengthen the supervision of listed companies, crack down on financial fraud, illegal occupation and other illegal acts, and effectively protect the legitimate rights and interests of investors.

The responsible comrades of the relevant departments of the CSRC said that in the next step, the CSRC will strengthen joint efforts with various regions and departments to build a comprehensive punishment and prevention system to combat financial fraud, focusing on cracking down on five types of behaviors. First, long-term systematic fraud and third-party cooperation fraud, for the planners and helpers of fraud, we must seriously pursue responsibility and resolutely break the "ecological circle" of fraud. The second is the fraudulent issuance of stocks and bonds. We must resolutely keep counterfeiters out of the capital market and resolutely remove those who have mixed in. The third is the financial "bathing" behavior of abusing accounting policies and accounting estimates and adjusting profits at will. The fourth is the act of counterfeiting through financing trade, "idling" and "taking orders". Fifth, a series of fraudulent acts accompanied in the process of encroaching on the interests of listed companies and hollowing out listed companies.

Facing multiple delisting risks

It is noteworthy that the company also faces multiple delisting risks.

On the evening of April 28th, the company issued an announcement about the delisting risk warning of the company’s shares being superimposed, and the company received the Notice on the same day. According to the "Notice", it is found that Xinye Textile has illegal facts such as inflated business income, inflated business cost, inflated inventory, inflated research and development expenses, inflated profits and so on. The aforementioned matters may touch on the situation of forced delisting due to major violations of laws, and the company’s shares may be forced to be delisted due to major violations of laws. At present, the company is verifying the illegal facts and financial data of the Notice, and the final result is subject to the formal decision. The company will continue to pay attention to and disclose relevant information in time after receiving the formal punishment decision.

There are other risks of termination of listing in the company’s stock. On the evening of April 28th, the company announced that the matters that caused the company’s 2022 financial report to be unable to express opinions by audit institutions included: correction of accounting errors in the previous period, major defects in internal control of financial reports, and major uncertainties related to going concern. The company’s 2023 annual financial report is intended to be issued by the audit institution with non-standard opinions, thus touching the delisting situation.

At the same time, according to the relevant regulations, listed companies that only issue A shares in Shenzhen Stock Exchange will be terminated if the daily closing price of their shares is lower than that of 1 yuan for 20 consecutive trading days. As of the disclosure date of this announcement, the closing price of the company’s shares has been lower than that of 1 yuan for 18 consecutive trading days. If the closing price of the company’s shares is lower than that of 1 yuan for 20 consecutive trading days, the company’s shares will be terminated from listing, and investors will be reminded to pay attention to investment risks.

Up to now, the company has not disclosed the 2023 annual report. According to the suggestive announcement issued by the company on April 26 on delaying the disclosure of the 2023 annual report, the 2023 annual report of the company postponed the disclosure date to April 30. According to the company’s announcement on April 28th, the company’s 2023 annual financial report is intended to be audited by an audit institution with non-standard opinions, thus touching the delisting situation. From this calculation, the company may first touch the financial delisting index.

"The above-mentioned cases have released the heavy signal that the CSRC insists on cracking down on financial fraud. Through this case, we find that securities supervision and law enforcement is by no means a "three cups of fines", let alone a "break the money to avoid disaster" and get rid of it once. It will help to rebuild a good market ecology by attacking counterfeiters who try their own laws and hitting "don’t dare to do it again", which will make them learn a lesson and remember for a long time, especially for vicious illegal acts such as financial fraud. Lv Chenglong, an associate professor at Shenzhen University Law School, thinks.

Lv Chenglong also said that at present, with the start of a new round of delisting reform, the number of "delisting contacts" for financial fraud has increased. Among them, the revision of the delisting rules proposes to strictly apply the scope of major illegal delisting, lower the threshold for two years of financial fraud to trigger major illegal delisting, and add one year of serious fraud and years of continuous fraud delisting. "In the future, these measures will help build a safe, standardized, transparent, open, dynamic and resilient capital market." Lv Chenglong said.

The central bank canceled the "reserve subsidy" and the free meal for credit card repayment shrank.

  The feast of free credit card repayment is gradually shrinking. After the full payment of credit card repayment by WeChat, Alipay will also cancel the policy of free credit card repayment. Yesterday, Weibo, the official Alipay, issued an announcement on "Adjustment of Alipay Credit Card Repayment Service Rules". According to the announcement, starting from March 26, 2019, when individual users use the "credit card repayment" function of Alipay client, Alipay will charge 0.1% service fee for the part exceeding the free quota of 2,000 yuan.

  Alipay will charge more than 2,000 yuan for credit card repayment.

  Alipay said that this adjustment is due to the rising comprehensive operating cost of credit card repayment service, and struggling to support it is not conducive to sustainable development, but charging means that higher service standards are needed and users will be rewarded with more and better services.

  After the new regulations come into effect, how to charge? If the user pays back less than 2000 yuan, it is still free. Only the excess will be charged with a service charge of 0.1%. Taking 3,000 yuan as an example, if the free quota of 2,000 yuan is deducted, the service fee that users need to pay is 1,000× 0.1% = 1 yuan.

  Alipay’s rules for adjusting credit card repayment are not the first in the industry, and WeChat has taken the lead in ending the benefits of free credit repayment.

  Since December 2017, WeChat has officially started to charge users for credit card repayment business, charging 0.1% (minimum 0.1 yuan) for the part that the accumulated repayment amount exceeds 5,000 yuan per natural month, and the part that does not exceed 5,000 yuan is still free. In August 2018, the amount of 5,000 yuan free of charge was officially cancelled.

  From August 1st last year, except for Platinum and Gold members of WeChat Licaitong and users who have been transferred to 500 yuan or above for the fixed investment plan, other users will be charged a handling fee of 0.1% of the repayment amount through WeChat, and no free quota will be set.

  The charging ratio of Alipay is the same as that of WeChat, which is 0.1%. However, Alipay has set a free quota of 2,000 yuan for each user, and only charges 0.1% for the excess. Therefore, Alipay will save 2 yuan service fees over 2,000 yuan, no matter how much it pays back.

  The bank charges the third party a passage fee.

  When WeChat cancelled the charges at that time, it also explained that there would be a payment channel fee behind each repayment. In order to enable users to enjoy some free product experiences, Tencent Tenpay has been subsidizing the fees.

  Industry insiders told reporters that Alipay and WeChat started charging in order to balance costs and sustainable development. Because banks have to charge channel fees to third-party institutions. Even if they charge one thousandth of the handling fee now, they still have to subsidize about five thousandths of the handling fee.

  These costs have always been there. Why can’t we bear them now? Some insiders believe that the reform of "centralized deposit and management of payment institutions’ reserves" ended in January this year is likely to be one of the important influencing factors.

  The "reserve subsidy" is gone

  The so-called "reserve fund" refers to the monetary funds actually received by the payment institution to handle the payment business entrusted by customers. This fund has expanded with the expansion of the number of customers and payment business, and has generated huge capital gains in the precipitation period. In the past, the central bank stipulated that the interest on customers’ reserves belonged to third-party payment companies. Therefore, the interest income from customers’ reserves has been a major source of income for many payment institutions. However, some small and medium-sized payment institutions can’t resist the temptation, and boldly misappropriate and occupy customers’ reserve funds, causing many risk events.

  So the central bank changed its policy. According to the current policy, all third-party payment institutions, including Alipay and Tenpay, should cancel the RMB customer reserve account before January 14th this year. The reserve funds of payment institutions will be taken over by the central bank, and interest will not be paid temporarily. In the past, the payment institution could use this part of interest to subsidize the handling fee cost, but now it is gone.

  Tencent’s interim report in 2018 shows that due to the requirement of centralized deposit ratio of reserve funds, the overnight cash balance that payment service providers can obtain interest income has decreased, which continues to adversely affect Tencent’s payment service income and gross profit margin to a greater extent.

  Another adverse effect brought by the new rules of reserve fund is to reduce the bargaining power of cooperation with banks. Some insiders said that before the payment institution chose the reserve deposit bank, the bargaining power was very strong. In order to strive for deposits from payment institutions, banks will give a large margin of profit in channel fees. Now that the reserve funds are uniformly collected, payment institutions can no longer contribute deposits to banks, and banks have no reason to make profits. The channel rate is likely to rise, and the cost pressure of payment institutions will inevitably increase.

  Free advice

  1. There are still tricks for free repayment of WeChat Alipay.

  If the user is used to Alipay or WeChat repayment, and the repayment amount is more than 2,000 yuan, is there any way? Alipay suggests that you can redeem more free credits through Alipay membership points, or ask family members who still have free credits to help complete the repayment.

  According to the regulations of WeChat, there are three types of customers who can continue to enjoy full credit card repayment free of charge, namely, Tencent Licaitong Platinum, Gold members and users who have been transferred to 500 yuan or above by the "Love Investment Plan".

  The membership level is divided according to the financial value. The financial value of platinum and gold members is 500,000 and 100,000 respectively, which can be improved by immediately increasing total assets and doing tasks. In contrast, it is more cost-effective to transfer to 500 yuan for fixed investment every month, and you can also enjoy the benefits of free credit card repayment.

  2. UnionPay bank can pay back the credit card for free.

  Of course, you can continue to enjoy the lunch with free credit card repayment in UnionPay and banks.

  For credit card users, the most worry-free way is to bind the debit card accounts of peers and set up automatic repayment. Even if automatic repayment is not selected, all channels of repayment by the issuing bank are free.

  Some cardholders don’t have debit cards from credit card issuers, and they use other banks’ online banking or mobile banking to make cross-bank repayments. Many banks don’t charge fees. For example, the two major apps of China Merchants Bank, including China Merchants Bank APP and Pocket Life APP, also support free credit card repayment, and also support inter-bank repayment.

  It is understood that credit card repayment and transfer through China Unionpay Quick Pass, the official APP of China UnionPay, are also free. In addition, 66 banks, including Agricultural Bank of China, Bank of China, China Construction Bank, Postal Savings, China Everbright, CITIC, Pudong Development Bank, Minsheng, Huaxia, Ping An, Guangfa, Xingye, Bank of Beijing and Bank of Shanghai, have launched credit card bill inquiry services in China Unionpay Quick Pass. "China Unionpay Quick Pass" also has many functions, such as credit card benefit inquiry, card application service, mobile phone flash payment opening and so on, where users can enjoy convenient, fast, labor-saving and worry-free credit card service.

  3. Du Xiaoman and Jingdong Finance can repay for free.

  At present, among the three platforms of BAT, only Xiaoman Finance still provides credit card free repayment service. Users can download Xiaoman Financial APP, and you can see the credit card repayment function on the homepage. You can also download Xiaoman Financial’s credit service APP "Money Spend", and you can easily perform credit card repayment operation in the "Discovery" column. At present, Du Xiaoman Finance supports the credit card repayment of 28 banks, covering prime bank, and it usually takes 30 minutes to get the account.

  Jingdong financial APP can also repay credit cards for free. At present, JD Finance supports users to repay credit cards from 29 banks including Industry, Agriculture, China, Construction, Communications, China Merchants Bank and CITIC, which usually arrive within 30 minutes.

  Text/reporter Cheng Wei

  Photo courtesy/vision china

Strong flavor of the year, delicious food and fragrance (New Year special)

The pictures from top to bottom are:

Sausage and seasoning.

Photo by Luo Yuewen (Image China)

Wanggezhuang steamed bread.

Photo courtesy of Wanggezhuang Street, Laoshan District, Qingdao

Hakka fried hairpin.

Lan Qilong

Hemp leaves and burnt meatballs.

Photo by Wang Xu

  I love the bacon in my hometown.

  Zhou yujiao

  When there are mountain people on the street who pick fragrant cypresses, I know that the year is approaching.

  Zunyi, located in the southwest, mostly belongs to the alpine mountainous area, with abundant rainfall and humid climate all year round, and food, especially meat, is not easy to store. In the years when there was no refrigerator, the mountain people made bacon, which was hung on the stove for many years and was smoked and roasted by the stove fire. This kind of bacon gradually changed from light chestnut to burnt black, but the taste became more and more mellow.

  Living in the city, there is no firewood to cook, but smoked bacon is still an essential new year’s goods, otherwise it will lose its flavor in 2008. I still remember that there was a big tin bucket in the family courtyard where I lived. Before and after the winter solstice, the tin bucket came in handy. Since the first family began to smoke bacon, the smell of smoke in the small courtyard has been floating until the 28 th of the twelfth lunar month, never stopping.

  Smoked bacon, for any family, is a major event in the New Year. Early, my mother went to the vegetable market to buy fat and thin "two-knife meat" and pork belly, and cut them into strips of moderate size. When you come home, first smear high-alcohol liquor on the meat, which can not only disinfect and sterilize, but also benefit the taste. Then add the salt to spices such as pepper and star anise, stir-fry slowly with low fire until the salt is slightly yellow, and rub it repeatedly on the pork while it is hot to let them penetrate into the meat. Marinate it for about a week, turn it twice, then take it out and dry it, and you can smoke it.

  Just as there can be no bacon in the annual flavor, can there be no sausage in the bacon? The most technical part of sausage is seasoning, and each seasoning has its own advantages, whether it is spicy or sweet, depending on preferences.

  Filling sausages is also a technical job, too tight, and it is easy to break the extremely thin casing; It’s too fluffy to cut into pieces after steaming, even if it’s a housewife’s hand, when she eats a "round meal" in the first month, it will definitely make her relatives talk for a long time. After the meat is poured into the casing, one section is tied tightly with cotton thread. The last process should not be vague. Punch the hole with a needle to let out the air in the sausage.

  Marinate for about a week, turn and knead once in the middle, air dry for two days, remove the water, and you can smoke. Mother took out the usual accumulated seed shells, peanut shells, dried orange peels and bagasse, and went to the street to find a load of cedarwood and some sawn wood surfaces, and everything was ready.

  Put the meat and sausage on the steel bar that crosses the tin bucket in an orderly way, cover it with several layers of thick linen, light the stove door specially opened under the tin bucket and add cypress, and the bacon will begin. The fragrance of cedarwood and nut shells floated out with the white smoke, and in a short time, the oily smell of bacon also escaped. In the crackling burning sound, the meat creaked slightly. From time to time, a drop of oil dripped into the fire, and a spark burst out, and another spark burst out.

  Bacon is a chore. Mother has to stay by the iron drum all day, and can’t leave for a moment. It is necessary to add fuel from time to time to ensure that there is smoke coming out continuously. More attention should be paid to controlling the fire not to be too big, not to burn the meat, and to turn it off once in the middle to make the meat smoked more evenly.

  At dusk, the meat was finally smoked, brought home and hung on the balcony. The fragrant smoke filled the whole room instantly, and glittering oil beads dripped from time to time. This is the fragrant smell of "Nian".

  On New Year’s Eve, bacon sausage is undoubtedly the protagonist. After this day, relatives began to eat "turn around". Each family’s signature dishes have their own merits, but the position of preserved meat has never been shaken, and it is the most popular whether it is drinking or eating. Each family has its own bacon flavor, which is an important criterion for judging a housewife’s cooking.

  Bacon in the mother’s hands can be described as endless changes, which can be combined and perfect — — Stewed square bamboo shoots with preserved pork feet, stewed rice with preserved ribs, fried turnips with preserved meat, fried ferns, and fried broken ears with sausage … … Everything is an authentic taste of northern Guizhou.

  Of course, it is more common to cook directly without any side dishes. In the more mellow and thick wax fragrance, the fat is crystal clear, the thin ruddy is firm, and it is fat but not greasy, thin but not firewood, and the thick oil fragrance is accompanied by a touch of vegetation fragrance, which is an unusually rich annual flavor, from the first year fragrance to the end of the year.

  Now that there are abundant materials, there is no need to store meat by smoking. Home-cooked bacon is becoming less and less. All the year round, we go to the market to purchase finished products, and we can feast on them with a little cooking. But I still miss the time when I smoked bacon at home, because the smell of bacon filled with fireworks carries the memory of time and the taste of family.

  Hong huo huo Zheng mantou

  Wang Qin

  "Aunt Li, let’s make a big steamed bun by soaking in the starter and making a good face!"

  "Uncle Zhang, steamed bread is up to you. The wind should be strong and the flames should be strong! "

  In the cramped painting, all the shouts rang out, and all the people in the hospital could hear clearly. Then Aunt Li was busy finding out the basin and soaking the starter. Aunt Wang washed and washed a bunch of "clips" and wiped and wiped them; Zhang Shu lit the stove with firewood, then "Huda Huda" pulled up the bellows, and the flames burst out of the furnace, making the kitchen red. In a short time, hot steam floated out of the open window, and the bellows rang even louder.

  Steaming steamed bread in the New Year is one of the important contents of welcoming the New Year. In Qingdao, my hometown, in the past, steamed bread must be among the sacrifices offered to ancestors at festivals, which shows the position of steamed bread in people’s minds. Nowadays, although steamed bread has become a common thing, its meaning is still far-reaching. Making steamed bread should be "steamed" and "steamed", which is related to homophonic words such as "getting rich" and "thriving" and is also an expression of people’s New Year’s vision. Therefore, despite the abundant food and convenient purchase, many people still keep the custom of steaming steamed buns for the New Year.

  Making steamed bread is indispensable for "jujube cake". Insert the washed dates evenly into the round dough, which looks like a "jujube hill" at first glance. Some also cut the jujube into pieces, remove the jujube core and insert it on the steamed bread, which looks like a fish scale, like a fat "jujube fish" and a "hedgehog" full of thorns. The interpretation of jujube in the workshop is mostly homophonic: lucky strike, thriving, is a symbol of happiness and auspiciousness. Jujube cakes are not only visually beautiful, but also sweet and auspicious. Eating Chinese New Year’s jujube cake will usher in a year of good luck.

  In addition to making steamed bread, steamed "clips" are also indispensable pasta for the New Year. "Clip" is a kind of woodcut mold, which is specially used to make various kinds of pasta, and the pasta people will make with it is also called "clip". "Clip" is actually a kind of steamed bread, but the style is different. The "clip" dies are large and small, long and short, square and round. There are many patterns of "clip", such as fish, peach, lotus, cicada, zodiac, etc., as well as the word "Xi", "Fu" and "Shou", which means that there is more than enough every year, good luck and peace.

  Generally, after off-year, the compound will be lively. Neighborhood help each other, some provide "old introduction", some guide "hair face", and aunts will help the families of dual employees; Anyone who has a "clip" at home will contribute, and each family will take turns using the "pass the parcel". In those days, people with big iron pots even went to their neighbors to cook, and the big iron pots were specially used to steam steamed buns for their neighbors. From morning till night, you come and I go, and the owner goes west. The joyful, harmonious and warm atmosphere hangs over the whole compound, which makes people feel the beauty of the New Year.

  After steaming steamed bread, put it in a cool and dry place. Half a century ago, ordinary people didn’t have refrigerators and freezers, and the cool places such as aisles and corridors were used. Wrap the steamed bread and "clip" with clean gauze, and then wrap it with a protective layer, or put it in a jar, jar or carton for more than ten days. Some of them are preserved properly, and they are as delicious as ever after the first month.

  The first month is a day of delicious food. With braised pork, fried fish and freshly fried vegetables, drinking two or two small wines and eating a white and soft steamed bun or "clip", there is simply no way to say that happiness!

  In the 21st century, some traditional customs are slowly changing, but their "roots" are still there, and they are endowed with new contents and new forms, becoming more and more popular.

  Now during the Spring Festival, people can go to the supermarket to choose all kinds of steamed bread and "clips" at will, and there is no need to ferment, mix flour and knead shapes by themselves. Steamed bread has also become a tool for hometown people to get rich. Wanggezhuang, Qingdao, set up a big steamed bread production base more than ten years ago, and the sub-district office is responsible for ensuring "materials", "quality" and "reputation": yeast is provided in a unified way, and flour is invited for bidding once a year, which not only ensures the nutrition and grade of flour, but also encourages surrounding farmers to grow a variety of good grain. The industrial chain, with big steamed bread as the main product, accompanied by fancy steamed bread such as "Swallow", "Fushou Peach", "Fugui Fish" and "Jujube Flower Cake" as the secondary products, has made this land at the foot of Laoshan Mountain present a prosperous and beautiful scene, and let the local villagers really taste the sweetness of common prosperity.

  "No hairpin but a new year"

  Zhong Zhaoyun

  In the Hakka mountainous area at the junction of Fujian, Guangdong and Jiangxi provinces, there is a kind of delicious food called "Zan", which generally refers to the food made by grinding rice into powder or pulp. There are many kinds of them, which should be made in solar terms. According to the stuffing, color, shape and so on, they can be used as snacks, staple food or even a dish. Hakka people have it on their dining tables all year round, and it is a "hard dish" during the Spring Festival, which can be seen from the saying that "there is no hairpin but the New Year".

  Since I was a child, I have an extraordinary hobby for hairpin, especially the special fried hairpin in Yanqian Town, Wuping County, my hometown in western Fujian. It is golden in color, crisp on the outside and tough on the inside, sweet and delicious. After eating it overnight, it becomes crunchy when bitten, and it is famous for its long shelf life.

  As soon as the New Year’s Eve arrives, every household begins to make chopsticks, and when they arrive at the village entrance, they can smell the fragrance floating in the air. At this time, no matter how naughty and active the children are, they can quietly wait around the steaming stove to eat. After the "small balls" reach their mouths, they often catch a few out of the house to show off their "wealth" to the village friends and eat with relish like greedy cats. Hakka people are simple, kind, warm and generous. They have fried the hairpin at home. As long as they know who has not cooked the pot next door, they will bring a bowl to taste it together.

  As far as I can remember, during the Chinese New Year, my father took care of the hairpin at home, from cooking brown sugar, rubbing the hairpin balls to frying with fire, and my mother and my brother and sister were responsible for passing the "small balls" in the hall. The "small balls" are well-proportioned, and dozens can be arranged in a big bamboo basket, not next to each other, not to overlap, in case of sticking. When a basket is made here, a pot is almost fried in the kitchen, and several large bamboo baskets are replaced by turns. Both sides are in full swing, and they must do it in one go before the 29 th of the New Year’s Day, and they have to give up the stove for the New Year’s Eve.

  Gradually, my position rose from the firewood worker in the kitchen to the main player of the hairpin, but I never replaced my father’s "handsome" position. In fact, the coach is not good, the ratio of indica rice flour to glutinous rice flour is out of balance, the sugar water is not in place, and the heat is not enough, which will easily lead to the phenomenon of fried dough, incomplete frying, and a pot of coke. Under normal circumstances, when the oil temperature is 60% hot, the ball table turns yellow in a few minutes, and then it is fried for an hour or so with a small fire. From time to time, the ball is turned over with a spatula to avoid burning the sticky pot, then covered with a bamboo cover, and placed in a fixed porcelain basin until the oil drops dry before entering the cylinder. Hairpins are fried crystal clear one by one, and they are caramel color soon after they are taken out of the pot, and they will become the famous fried hairpins in front of the rock after being put on overnight. Making a good pot of hairpin requires the cooperation of many people, but the technical work still depends on the veteran at the helm.

  The happiest thing at the labor site is to cook and eat now, and take a bite of incense. Adults always fry the first pot for seven minutes in order to let the greedy children eat the hairpin early, which is called "seed fire hairpin", which is soft and sweet and won’t get angry if they eat more. Once I ate a dozen in a row, and a big bowl filled with them turned upside down in an instant. The more children eat, the happier their mothers are. When my mother is happy, she will sing the ballad that my grandmother taught when she was alive: "The foreign leaf (butterfly) leaves Ye Fei, and my mother will return to her daughter; Take the big hairpin to sister, and leave the small hairpin to tease the younger brother. " Full of sound and emotion, people feel that happiness is so simple and family affection is so priceless.

  Pots of round, hot, delicious hair sticks are fried, fat and thin bacon is available, fragrant rice wine is brewed, red Spring Festival couplets and door gods are posted, and all the rooms are clear and cool, and the laughter and laughter at home and in the village are transmitted in the spring breeze.

  Most families in my hometown will keep some chopsticks and take them with them when they go to spring ploughing, which are called "supporting bones" as dry food or snacks. If you have a bad mouth, you can steam it with breakfast or cut it into small pieces to eat cold. Some old people also stew porridge or stewed sweet potatoes, the taste is unchanged, and the teeth are stiff. This flavor of the year is still original after the Dragon Boat Festival.

  After many years, we have grown up and traveled all over the country, but we can never forget the taste of our hometown. Every year during the Spring Festival, I invite two or three relatives and friends to get together at home to taste the fried hairpin in front of the rock. If there is "Wuping dried pork gall", which is the first of the "eight dry things in western Fujian", and then there is a "rock sheep stew" which should only be in the sky, it will be better than the fairy. The taste of hometown and the feelings of wanderers are worth savoring all your life.

  "Uncle, have a bowl of fried chopsticks … …” Nowadays, when I go home, I often just sit down in the living room and hear the voices of my nephews. There are a dozen exquisite hairpin in the bowl, and the smiles on their faces are just like the "reunion fried hairpin" in front of them, which is festive and brilliant.

  Delicious "flowering"

  Li Dan cliff

  In my hometown of Bozhou, Anhui, before the Spring Festival, people like to make hemp leaves, commonly known as "scorched hemp leaves", and some elderly people call them "scorched leaves". Hemp leaf, as its name implies, is a gourmet with sesame as its main feature. Sesame is divided into black and white, so hemp leaves are also divided into black sesame leaves and white sesame leaves.

  As soon as winter comes, housewives begin to be busy with the New Year. They took the sesame seeds harvested in autumn out of the bag, filtered the dust with clear water and dried them for later use. You can be very particular about noodles. To make noodles with hemp leaves, it is necessary to mix them with vegetable oil, which can ensure the pure taste and the crisp and delicious fried hemp leaves. When the dough is mixed, it needs a disk surface, and then it is rolled into a dough. When the dough is almost rolled, stretch the dough, sprinkle with sesame seeds, and roll it again to ensure that the sesame seeds and the dough stick together. Then roll up the dough on a rolling pin, "stab" it with a knife, and cut the multi-layer dough from the middle. The dough was cut into pieces, then cut into diamonds and dried in a sieve basket.

  The wind at the end of the year soon evaporated the water in the diamond-shaped dough in the sieve basket. At this time, the hemp leaves were initially formed, and sesame seeds were visible on the dough. Then, add raw hemp leaves into the oil and fry them with slow fire. Until the hemp leaves turn yellow, stir them up with a hedge and clatter. After the pot is cooled, the hemp leaves are crispy and delicious, and the house is full of fragrance.

  There are many ways to eat hemp leaves, which can be placed on a plate and served as a dish. It can also be sandwiched in the middle of hot steamed bread to eat. The hot air of hot steamed bread can catalyze the fragrance of oil and increase the taste of hemp leaves. Or break hemp leaves and wrap them into flat food with leeks and shrimps to eat; It’s not bad to eat as a refreshment. There is no trivial matter in the twelfth lunar month in my hometown, and my family sits around and "eats their teeth". "idle teeth" is a dialect, which means eating delicious food and chatting. The family sat in the living room watching TV and eating hemp leaves, enjoying themselves.

  The color of hemp leaves is like gold, so it is called "Jin Yezi". In addition to hemp leaves, there are prickly heat for the Spring Festival. At this time, the prickly heat is "small prickly heat", which is made of sesame oil and flour, sprinkled with sesame seeds and rolled into rectangular pieces. The knife cuts several holes vertically on the dough sheet, and the two ends are kept open. When it is pinched and twisted, it becomes a candy style, which is small and unique and fragrant. On the day of the northern off-year, my grandmother would stack the fried prickly heat layer by layer in a white porcelain plate, like a golden hill, and let the children eat it together with the candy for the stove. Grandma said, "If you eat a small prickly heat, you have to chew something! Otherwise, a good tooth and a crisp mouth are wasted. "

  Eating related to "Year" has a good color. Hemp leaves have the meaning of spreading branches and leaves, and having more children and more happiness; The small scorpion has the meaning of twisting into a rope and family unity. Another delicious fried food — — Jiaowanzi means reunion.

  To make burnt meatballs, you should also use sesame oil and flour. Whether the meatballs are burnt or not, fans are the key. Good sweet potato vermicelli, soaked in hot water for two hours, chopped into pieces, mixed with flour and paste, sprinkled with spiced powder, salt and other things. Grab a handful of dough and hold it in your hand. Squeeze it a little hard, and the batter will come out from the jaws of the tiger and squeeze it into the boiling oil pan. It will "squeak" and immediately rise to a fragrance. The fried burnt meatballs are crispy and delicious, and can be eaten directly, steamed or put in mutton vermicelli soup, which has a unique flavor. Today, burnt meatballs are still a necessary food for people in northern Anhui at the end of the year.

  Hemp leaves, small prickly heat and burnt meatballs are rolled into flowers in the oil pan, and the state of food blooming in boiling oil seems to welcome a hundred flowers after the Spring Festival. Apart from eating hemp leaves, small prickly heat and burnt meatballs, all kinds of sweets, chocolates and biscuits are on the table, and every household seems to have opened a small supermarket.

  When writing this article, I saw that my mother was wearing reading glasses to cut the window grilles, which were the patterns of magpies climbing branches, while my daughter was carrying the hemp leaves that her grandmother had just fried and squeezing the ketchup … … Happy and beautiful days are just around the corner.

  In such an important festival as the Spring Festival, food brings people not only delicious food, but also a sense of reunion and joy. The family is sitting around, the lights are amiable, and the delicious "flowers" live up to the Spring Festival.

Rent a car and drive home during the Spring Festival. Be careful that these "routines" can’t go!

  Xinhua News Agency, Beijing, February 1st Question: Rent a car and drive home during the Spring Festival. Be careful that these "routines" can’t go!

  Xinhua News Agency "China Net" reporter Wu Mengda Wang Jing

  As the Spring Festival approaches, plane, train and bus tickets are hard to buy, and more and more people choose to rent a car to return home. The reporter’s recent investigation found that many people have the experience of being "touched by porcelain" and "killed by customers" when renting a car. Because of the vague contract provisions and blank supervision, they can only "worry" when there is a dispute. When renting a car to go home during the Spring Festival, we must be careful, and the regulatory authorities should also take timely actions to fill in the "pit" of the industry.

  Renting a car but encountering a serial "pit"

  According to the data of market research organization iResearch, the number of automobile drivers in China has exceeded 300 million at present, and there is a big gap between drivers and car ownership. The combination of economic growth, lifestyle changes and self-driving travel habits makes car rental a new travel choice. However, compared with the rapidly developing market scale, the market order has become a lagging short board.

  Not long ago, Ms. Min Tian, a Beijing citizen, traveled to Chifeng City, Inner Mongolia, rented a car from Chifeng Junyi Car Rental Co., Ltd., paid a deposit of 5,000 yuan and signed a contract, agreeing to return the car that night. After taking a few photos of the car’s appearance, several people drove on the road, but the experience of returning the car made her unexpected.

  When Ms. Tian contacted to return the car by phone, she learned that Ms. Tian would leave Chifeng by plane at night, and Liu, the person in charge of the car rental company, "actively" suggested that she could return the car at the airport. However, after repeated phone calls, Liu arrived more than 40 minutes late.

  Ms. Tian said that after watching the car, Liu said that "there are scratches on the front and left back doors". Some photos taken by Ms. Tian when renting a car prove that scratches already exist. Then Liu suggested that the steering wheel had abnormal sound. Despite Ms. Tian’s objection, the plane waited for no one, so she had to take the opportunity to leave in a hurry.

  Early the next morning, the two parties agreed by telephone that Ms. Tian’s local relatives and the car rental company would test the vehicle together. Not long after, Ms. Tian received a phone call from the car rental company, saying that the car had been unilaterally "inspected". The report sent by the car rental company said that "the trailer parts of the vehicle are loose, causing antifreeze leakage" and asked Ms. Tian to sign and deduct the deposit.

  The reporter contacted Liu, the person in charge of the car rental company. Liu said that the test found that the external scratches and steering wheel of the car had nothing to do with the renter, but the bottom drag parts of the car were faulty, and the renter had to bear the repair fee, which would be deducted from the deposit of 5,000 yuan.

  In this regard, Ms. Tian believes: "It is agreed to inspect the car together, but the other party goes privately, and the test results of the car inspection are a list, which is difficult to convince." Previously, some consumers reported that they encountered a similar situation when renting a car in Chifeng, and they didn’t return a penny of the 2000 yuan deposit, so they could only admit that they were unlucky.

  The reporter interviewed the local traffic management department. After investigation, the car rental company has an industrial and commercial license, but it is difficult for the traffic control department to handle similar situations. It is recommended that the car rental person solve it through litigation.

  Due to problems such as contract loopholes and careless inspection when renting a car, it is easy for many consumers to rent a car and it is difficult to return it. According to the consumer complaints in the fourth quarter of last year published by the tourist city of Sanya, Hainan, car rental and wedding photography became the industries with the largest number of complaints.

  Hard to refund the deposit and hard to guarantee the insurance … … There are many "cheat people" routines.

  The reporter found that when consumers rent a car, the problems in three major areas, such as deposit, insurance and illegal disposal, are concentrated.

  Deposit — — The car is refunded and the deposit is not refundable. According to the common "rules" of the car rental industry, the car rental company can temporarily withhold the deposit for one month after the consumer returns the car, and then refund the deposit after all violations are settled. However, some companies are mixed, and the deposit is gone. Some consumers in Guiyang, Guizhou Province reported that the car was returned smoothly, but while waiting for the deposit to be refunded, the operator turned off and closed the door to play "into thin air", and the deposit of 5,000 yuan could not be refunded.

  Insurance — — If you buy insurance, you can’t protect it. There are still many consumers who report that it is mandatory to buy compulsory insurance when renting a car, but many companies have set up the overlord clause, and they have to pay all their own money if something goes wrong. Some car rental companies will sell higher "all risks", claiming to be "all-inclusive" of accidents, but there are exceptions in the contract, and many projects are difficult to pay. According to the local traffic management department, some car rental companies even deliberately concealed the coverage, which led the lessee to find that the insurance content was inconsistent with that published by official website, a car rental company.

  Violation — — You can also "buy and divide". Mr. Zhao, a Beijing citizen, told reporters that he rented a car in CAR Inc. Xi ‘an North Store last October and drove to Gansu. After that, CAR Inc. informed him that he violated the rules in Gansu: speeding was 50%, and 200 yuan was fined 6 points according to the traffic regulations. And the local CAR Inc. also provides "intimate" service: you can "buy points" from the company for 400 yuan, and if it is too expensive, "it can be discussed again". Consumers themselves inquired about the traffic management bureau in the area where the violation occurred, and the answer turned out to be: no violation information record was found.

  Urgent solution to legislative gaps and regulatory loopholes

  Industry insiders told reporters that there are many gaps in how to supervise the car rental industry. The state has not yet issued relevant laws and regulations on car rental, and grassroots law enforcement also lacks a superior law to refer to.

  Cao Wenke, the relevant person in charge of the Transportation Management Office of Chifeng City Transportation Bureau, Inner Mongolia, introduced that in 2017, the then Ministry of Transport and the Ministry of Housing and Urban-Rural Development jointly issued the Guiding Opinions on Promoting the Healthy Development of Minibus Leasing. However, in practical application, the "guiding opinions" of ministries and commissions can not be used as the basis for law enforcement, and it is difficult to carry out supervision work normally.

  "Car rental companies make false invoices to find the tax bureau, seek the industrial and commercial bureau without a license, find the transportation management department without qualification, and find the traffic police without annual inspection and insurance … …” A grassroots cadre said that this kind of segmented management can easily lead to the phenomenon of "kicking the ball".

  Savage growth not only hurts consumers, but also hurts some car rental companies. According to the local traffic management department, after renting a car, some people mortgaged the rented car to others, resulting in the loss of the operator’s interests; After someone rented a car, a serious accident occurred and he left. In the end, it was difficult to deduct the accident loss with a deposit of several thousand yuan.

  Compared with foreign countries, China’s car rental industry is still in the initial stage of development, with huge market potential. Liu Junhai, a professor at the Law School of Renmin University of China, and other experts in the industry suggested that the relevant laws and regulations of the car rental industry should be promulgated as soon as possible, so that this field can be managed and managed, and industry self-discipline can also be explored, and a "blacklist" system can be established to restrict illegal rental companies from carrying out car rental business services.

Policy Interpretation of "Several Measures to Promote the Integration of Domestic and Foreign Trade in Tianjin"

Recently, with the consent of the Tianjin Municipal People’s Government, the General Office of the Tianjin Municipal People’s Government officially issued "Several Measures for Promoting the Integrated Development of Domestic and Foreign Trade in Tianjin" (No.29 [2022] of Tianjin Municipal Government, hereinafter referred to as "Tianjin Measures") to make arrangements for promoting the integrated development of domestic and foreign trade in Tianjin. The promulgation of "Tianjin Measures" will further give play to the market advantages and domestic demand potential, improve the ability to make overall use of two markets and two resources, and build an important node of the domestic grand cycle and a strategic fulcrum of the domestic and international double cycle. The relevant information of the document is now interpreted as follows:

(1) What is the background of formulating the Tianjin Measures?

The Fifth Plenary Session of the 19th CPC Central Committee put forward that "it is necessary to speed up the construction of a new development pattern with the domestic big cycle as the main body and the domestic and international double cycles promoting each other". The General Secretary of the Supreme Leader repeatedly stressed that "the new development pattern is by no means a closed domestic cycle, but an open domestic and international double cycle". The government work report of our city in 2022 also pointed out that "we should strive to build an important node of the domestic big cycle and a strategic fulcrum of the domestic and international double cycle, create more application scenarios and better open platforms, and better attract the gathering of high-quality resources at home and abroad. The integration of domestic and foreign trade is an inherent requirement for building a new development pattern, a positive response to the challenges and opportunities in the new development stage, and is of great significance for cultivating and building an international consumption center city in our city and promoting the coordinated development of domestic trade, foreign trade, import and export.

Since the reform and opening up, especially since the 18th National Congress of the Communist Party of China, the scale of China’s domestic foreign trade market has been growing day by day, and it has become the world’s second largest consumer market and the largest commodity trading country. Our city’s foreign trade has also developed rapidly. The import and export trade volume has increased from 150.37 billion yuan when we joined the World Trade Organization in 2001 to 856.74 billion yuan in 2021, an increase of 4.69 times and a record high. At the same time, with the approval of the State Council in July, 2021, Zhuhai took the lead in cultivating and building an international consumption center city, which brought great development opportunities for expanding domestic demand, promoting consumption, guiding export commodities to domestic sales, attracting high-quality goods imports, and smoothing domestic and international markets. In recent years, the docking of domestic and foreign trade markets in our city has been active, foreign trade enterprises have taken the initiative to explore the domestic market, domestic trade enterprises have actively expanded overseas markets, and the integration of domestic and foreign trade has accelerated, and a number of subjects engaged in both foreign trade and domestic trade have grown up, forming a number of industries that integrate domestic and foreign trade. However, there are still shortcomings in the integration of domestic and foreign trade, obstacles in the market access of domestic and foreign trade, imperfect system of domestic and foreign trade integration, insufficient ability to make overall use of two resources in the two markets, and insufficient smooth development of domestic and foreign trade integration, which can not fully meet the needs of building a new development pattern.

(2) What is the basis and process for formulating the Tianjin Measures?

In order to promote the integrated development of domestic and foreign trade, the General Office of the State Council officially issued the Opinions on Promoting the Integrated Development of Domestic and Foreign Trade on December 30, 2021, and made arrangements for promoting the integrated development of domestic and foreign trade, requiring all localities to study and determine specific policies and measures in light of the actual situation to promote practical results.

In order to implement the spirit of the State-run document, in accordance with the work arrangements of the municipal government, the Municipal Bureau of Commerce, together with relevant departments, combined with the cultivation and construction of "double centers" in our city, studied and drafted the "Tianjin Measures", solicited the opinions of 49 units including the people’s governments of various districts, relevant municipal departments, and relevant development zone management committees, fully absorbed and revised them, and reached an agreement through communication. At the same time, the public was consulted. ??

(3) What are the main contents of the Tianjin Measures?

The document defines five parts and 19 specific measures.

First, improve the system of domestic and foreign trade integration. Four measures are put forward, such as perfecting laws and regulations, perfecting supervision system, carrying out standard certification and promoting the homogeneity of the same line and standard. The key points include: timely promoting the revision of local laws, government regulations and administrative normative documents that hinder the integration of domestic and foreign trade; Carry out anti-unfair competition law enforcement in key areas; Promote enterprises to carry out benchmarking, and support third-party institutions such as inspection, certification and accreditation to provide one-stop services for domestic and foreign trade enterprises; Encourage and guide enterprises to develop homogeneity of the same line and standard through self-declaration or third-party evaluation.

The second is to enhance the development ability of domestic and foreign trade integration. Three measures are put forward to support the integrated operation of domestic and foreign trade by market players, guide the digital development of domestic and foreign trade enterprises, and innovate the integrated development model of domestic and foreign trade. The key points include: cultivating a group of high-quality trading enterprises with professional business, excellent service, unique products, new models, integrated development at home and abroad, strong innovation ability and competitive strength; Accelerate the digital transformation of foreign trade enterprises and encourage domestic and foreign trade enterprises to use big data technology to enhance their market analysis and judgment capabilities; Promote the construction of China (Tianjin) cross-border electronic commerce Comprehensive Experimental Zone and support enterprises to actively deploy overseas warehouses.

The third is to build an integrated development platform for domestic and foreign trade. Four measures are put forward, such as building a docking platform for production and marketing, giving full play to the internal and external functions of the exhibition, building a regional business distribution center, and cultivating an integrated service platform for domestic and foreign trade. The key points include: supporting foreign trade enterprises to conduct docking negotiations with large supermarkets, retail wholesalers, core supply chain enterprises, e-commerce platforms and live broadcast platforms to expand domestic sales channels; Support foreign trade enterprises to participate in domestic and foreign exhibitions and expand domestic and foreign markets; Cultivate and build an integrated domestic and foreign trade market; Support third-party platform enterprises to actively carry out integrated domestic and foreign trade services such as brand planning, standard certification, channel development, digital transformation, logistics and distribution, credit insurance financing and legal consultation.

The fourth is to build an integrated ecological environment for domestic and foreign trade. Five measures are put forward, such as building a highland of domestic and foreign trade integration development system, expanding consumption, tapping the potential of domestic demand, optimizing internal and external logistics channels, giving play to the role of financial security, and strengthening the training of professional talents. The key points include: promoting the coordinated development of Tianjin Pilot Free Trade Zone and special customs supervision zone, and expanding the business scale of bonded display transactions and classified supervision of warehousing goods in comprehensive bonded areas; Continue to carry out consumption promotion activities, expand the driving force of Haihe international consumption season, and accelerate the cultivation of new growth points such as night consumption, holiday consumption, customized consumption, green consumption and brand consumption; Improve the domestic and foreign trade service capabilities of Tianjin Port and Tianjin Binhai International Airport, and promote the high-quality normal operation of China-Europe trains; Strengthen the cooperative support of export credit insurance and domestic trade credit insurance for enterprises operating both domestic and international markets; Actively introduce high-level talents such as marketing, business management, e-commerce, digital economy and legal affairs.

Fifth, safeguard measures. Three safeguard measures are put forward: strengthening organizational guarantee, grasping the pilot work and strengthening publicity and promotion.

(four) to ensure the smooth implementation of the "Tianjin measures", what are the main safeguard measures?

First, the "Tianjin Measures" clearly requires all districts and relevant departments to fully understand the importance of promoting the integration of domestic and foreign trade, strengthen organizational promotion, and implement their work responsibilities. As the lead unit, the Municipal Bureau of Commerce should organize the establishment of a coordination mechanism for promoting the integration of domestic and foreign trade in this Municipality, and all relevant departments should be responsible for the division of labor, strengthen horizontal coordination and vertical linkage, form a joint effort, and ensure the effective implementation of all work. Each district should further refine its work measures in light of the actual situation of the district and promote the achievement of practical results.

Second, the "Tianjin Measures" proposes to meet the requirements of the standard country, promote the pilot work of integrated development of domestic and foreign trade, comprehensively sort out the problems and needs of integrated development of domestic and foreign trade, and promote the effective connection of domestic and foreign trade laws and regulations, supervision system, business qualifications, quality standards, inspection and quarantine, certification and accreditation. Study and explore the evaluation system of domestic and foreign trade integration, and feedback the effectiveness and shortcomings from different aspects. Strengthen the phased combing, regularly summarize the progress of key tasks and form an analysis report.

Third, the "Tianjin Measures" emphasizes the use of various media to promote the development of domestic and foreign trade integration, do a good job in interpreting relevant policies and reporting activities, tell the story of "Tianjin enterprises, Tianjin brands and Tianjin manufacturing", and create a good social atmosphere to support Tianjin products to open up domestic and foreign markets.

Notice of Beijing Municipal Commission of Housing and Urban-Rural Development and Beijing Municipal Market Supervision Administration on Promoting the New Edition of Beijing Pre-Property Service Contr

District Housing and Urban-Rural (City) Construction Committee, Housing Authority, District Market Supervision Bureau, Beijing Economic and Technological Development Zone Commercial Finance Bureau, Yanshan Market Supervision Branch, and all relevant units:

  In order to build a property management system under the framework of community governance led by party building, standardize the legitimate rights and interests of relevant subjects of property management, and ensure the legal, safe and rational use of property, according to the provisions of People’s Republic of China (PRC) Civil Code, Regulations on Property Management, Regulations on Beijing Property Management and other relevant laws and regulations, The Municipal Housing and Urban-Rural Development Committee and the Municipal Market Supervision Bureau jointly revised the Beijing Early Property Service Contract (BF—2010—2712) and the Beijing Property Service Contract (BF—2010—2713), and formed the Beijing Early Property Service Contract (BF—2021—2712) and the Beijing Property Service Contract. The relevant issues in the implementation of the model text are hereby notified as follows:

  One,The model text mainly clarifies the rights and obligations between the development and construction unit or the owners’ assembly and the property service provider, emphasizes the responsibilities of the parties to the contract, and clearly stipulates the responsibilities of both parties for breach of contract, termination of contract modification, dispute handling and so on.

  Second,The housing and urban-rural (city) construction committees and housing management bureaus in all districts should do a good job in publicity and training, guide the development and construction units or owners’ congress to sign service contracts with property service providers using model texts, and do a good job in publicity according to relevant regulations. The market supervision and management departments of all districts shall promptly investigate and deal with the illegal acts of format clauses in the use of contracts.

  Third,The model text shall be officially implemented as of the date of issuance. All units should pay attention to collect the problems found in the implementation of the model text, and promptly report to the Municipal Housing and Urban-Rural Development Committee andMunicipal market supervision and management bureauFeedback.

  Fourth,Model texts can be found in "Window of the Capital" (www.beijing.gov.cn), "Website of Beijing Housing and Urban-Rural Development Committee" (zjw.beijing.gov.cn) and "Beijing"Market supervision administrationWebsite "(scjgj.beijing.gov.cn) for download.

Beijing Municipal Commission of Housing and Urban-Rural Development    

Beijing Municipal Market Supervision Administration    

June 14th, 2022  

Last year, the credit card issuance scale of five banks exceeded 100 million, and the retail sector became the main business force.

  The recent intensive bank annual reports show that the retail business is becoming an important source of income for many banks, accounting for even more than half of the revenue in some joint-stock banks. Among them, credit card business has become the "main force" of bank retail business. In the past year, the volume of cards issued by five banks, including ICBC, CCB and BOC, has exceeded 100 million, and the total credit of credit cards has also increased significantly. Experts said that the enhancement of consumption driving force and the promotion of strict financial supervision are the main reasons driving banks to launch their retail business. Among them, the operation mode of credit card business is relatively simple and the profit mode is diverse, which has become the main force point of bank retail business. However, it is worth noting that with the substantial increase in the number of cards issued, the non-performing rate of credit cards has also risen, and the risks brought about by this are worthy of vigilance.

  What is the focus on retail business?

  The annual reports of many banks show that retail business is becoming an important source of income, accounting for more than half of the revenue in some joint-stock banks. For example, in 2018, China Merchants Bank’s retail financial business revenue was 123.257 billion yuan, a year-on-year increase of 16.04%, accounting for 52.69% of the total revenue. Ping An Bank’s retail business revenue was 61.883 billion yuan, a year-on-year increase of 32.5%, accounting for 53.0% of the total revenue. The net income of retail business of Shanghai Pudong Development Bank was 66.326 billion yuan, with an increase of 16.15%, accounting for 42.48% of the bank’s net operating income, making it the largest revenue segment.

  The Postal Savings Bank, which was included in the sequence of "large state-owned commercial banks" for the first time this year, also made clear its strategic goal of continuing to develop its retail business. At the performance conference of the Postal Savings Bank, Zhang Jinliang, the proposed chairman, said that the Postal Savings Bank will adhere to the strategic vision of "building a first-class large-scale retail commercial bank" and continue to consolidate the strategic foundation position of the retail business. Around this strategic goal, the Postal Savings Bank is now vigorously promoting business transformation.

  Why are banks so enthusiastic about retail business? Dong Ximiao, vice president of Chongyang Financial Research Institute of Renmin University of China, said in an interview with the Economic Information Daily that there are important internal and external reasons why commercial banks have invested in retail business. First of all, China’s economic environment has entered a stage of high-quality development, and consumption has become the first driving force for economic growth, promoting the development of bank retail business. Secondly, with the continuous promotion of strict financial supervision, the regulatory requirements for corporate business and inter-bank business of banks have been continuously improved, some businesses have shrunk, and retail business has become a new growth point. The narrowing of spreads, financial disintermediation and the increase of bad pressure also make the development of retail business an inevitable trend. In addition, the development of financial technology also brings more opportunities to the retail business of banks.

  However, Dong Ximiao also said that the strategic strength of banks in retail business remains to be seen. "The investment cost of retail business is high. Most of the existing retail business models are characterized by cost-driven and crowd tactics, which are time-consuming and laborious, difficult to make profits and slow to get results." He said.

  The surge in credit card volume has spurred revenue growth.

  Among many retail businesses of banks, credit card business is particularly eye-catching. As can be seen from the annual reports of many banks, the volume of credit cards soared in 2018, and the credit card business became the "main force" for banks to transform into retail business.

  The report on the overall operation of the payment system released by the central bank recently shows that in the past two years, the number of credit cards issued in China has increased by 221 million; The per capita holding of credit cards rose from 0.31 to 0.49. The total credit granted by bank cards increased by 6.26 trillion yuan, while the balance of credit payable increased by 2.79 trillion yuan.

  This "Great Leap Forward" momentum of credit cards can also be seen from the 2018 bank annual report. According to the annual report of CITIC Bank, by the end of last year, the bank had issued a total of 67.05 million credit cards, an increase of 35% over the end of last year. In the whole year, 17.48 million new cards were issued, an increase of 43% over the previous year. According to the disclosure of Shanghai Pudong Development Bank, by the end of last year, the bank had issued 56.5 million credit cards, a year-on-year increase of 37%; The number of cards in circulation was 37.5 million, an increase of 40% over the end of last year.

  Judging from the overall scale of credit card issuance by banks, among the banks that disclose credit card performance at present, ICBC occupies a dominant position in terms of scale, with the total number of credit cards reaching 151 million. In 2018, after ICBC, CCB and China Merchants Bank, the card issuance scale of BOC and ABC also exceeded 100 million.

  Dong Zheng, a credit card researcher, said in an interview with the Economic Information Daily that the reason why credit cards can become the focus of banks’ retail efforts is because they have obvious advantages compared with other traditional retail businesses. First of all, the credit card business relationship is relatively simple. "Unlike savings cards, credit cards don’t need deposits or funds. Cardholders can conduct corresponding business operations without establishing traditional account relationships with banks. For banks, the business model is simpler." Dong Wei said. Secondly, Dong Zheng pointed out that credit card development scenarios and profit models are more diverse, and people can be subdivided through consumption characteristics to achieve accurate positioning of different customers.

  With the rapid increase in the volume of credit cards, credit card transactions have increased substantially, and the income of related businesses has also risen. According to the annual report data, in 2018, China Merchants Bank’s credit card operating income reached 66.7 billion yuan, ranking first among the banks that have announced the credit card business revenue. Everbright Bank is 39 billion yuan, with a growth rate of over 39%, ranking first in the growth rate.

  Wang Ximei, an analyst at Analysys Financial Center, told reporters that in the transformation of the bank’s retail business, the credit card business has strong profitability, which can also drive the development of other banks’ businesses and bring a large increase in revenue for banks. At present, the main income sources of credit cards are interest income and installment fees. Interest income mainly comes from the interest charged by the bank for the cardholder’s failure to fully repay the credit card overdraft; The installment fee is the fee charged by the bank for the cardholder’s installment repayment, including cash installment, bill installment, consumption installment and merchant installment.

  The risk of rising credit card non-performing rate needs to be vigilant

  According to central bank data, as of the end of 2018, the total outstanding credit of credit cards overdue for half a year was 78.861 billion yuan, accounting for 1.16% of the credit balance of credit cards, down 10.48% from the previous month, but up 18.92% from the same period last year. Insiders pointed out that it can be seen from the data that although year-end supervision has played a certain role in risk management and control, credit card risks are still under great pressure as a whole.

  From the perspective of specific banks, the non-performing rate of credit cards in some banks has also shown signs of rising. For example, in 2018, the balance of credit card non-performing loans of CITIC Bank was 8.195 billion yuan, with a non-performing rate of 1.85%, up 0.61 percentage points from the end of last year; The overdue credit card loans reached 15.85 billion yuan, with an overdue rate of 3.59%, up 0.84 percentage points from the end of last year. The balance of credit card non-performing loans of Shanghai Pudong Development Bank was 7.832 billion yuan, with a non-performing rate of 1.81%, up 0.49 percentage points from the end of last year, and rising for two consecutive years. The NPL ratio of credit card loans of Ping An Bank was 1.32%, up 0.14 percentage points from the end of last year.

  In view of the risk of credit card business, the annual report of CITIC Bank pointed out that in recent years, personal consumer finance business has developed at a high speed, personal loan business has gradually expanded from commercial banks to various consumer finance companies and Internet platforms, and the phenomenon that individual consumers borrow from many financial or quasi-financial institutions at the same time is increasing. Affected by the macro-economic and regulatory environment, the asset quality of the co-debt customers has shown some signs of deterioration, and it has affected the credit card industry to some extent.

  Dong Zheng said that the current credit card risks mainly come from Internet finance fields such as online loans. "For example, some people rely on credit cards to cash out and then invest their money in online lending platforms. Once these online lending platforms have problems, the corresponding risks will be transferred to the issuing bank." He said. In this regard, he said that banks should strengthen big data risk control, effectively screen high-quality customers and reduce potential risks. At the same time, banks should also reasonably control the credit line, do not blindly take high credit as bait to attract customers, but also avoid multi-head credit and repeated credit.

  Wang Ximei said that the sharp increase in credit card issuance may have potential risks such as excessive credit to low-end customers and joint debt. Credit card risk management can be strengthened by optimizing customer base structure, focusing on tapping high-quality customers, optimizing credit card risk control system and strengthening overdue collection of credit cards.